Intuit Inc. (NASDAQ:INTU) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd decreased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 63.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the software maker's stock after selling 1,750 shares during the period. Cumberland Partners Ltd's holdings in Intuit were worth $628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Foundations Investment Advisors LLC raised its holdings in Intuit by 8.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 402 shares of the software maker's stock valued at $250,000 after buying an additional 30 shares during the period. Eastern Bank increased its position in shares of Intuit by 9.9% during the third quarter. Eastern Bank now owns 1,431 shares of the software maker's stock valued at $889,000 after acquiring an additional 129 shares during the last quarter. Leo Wealth LLC raised its stake in shares of Intuit by 8.6% in the 3rd quarter. Leo Wealth LLC now owns 341 shares of the software maker's stock valued at $212,000 after acquiring an additional 27 shares during the period. Stanley Laman Group Ltd. lifted its holdings in shares of Intuit by 28.5% in the 3rd quarter. Stanley Laman Group Ltd. now owns 1,479 shares of the software maker's stock worth $918,000 after acquiring an additional 328 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Intuit by 32.6% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,831 shares of the software maker's stock worth $1,138,000 after acquiring an additional 450 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the business's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 in the last 90 days. 2.68% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on INTU shares. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Oppenheimer boosted their price objective on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Scotiabank started coverage on Intuit in a report on Monday, November 18th. They set a "sector perform" rating and a $700.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Intuit from $600.00 to $640.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $726.53.

Intuit Stock Down 2.4 %

Shares of NASDAQ:INTU traded down $13.61 on Friday, hitting $565.47. 2,006,382 shares of the company's stock were exchanged, compared to its average volume of 1,767,831. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a market capitalization of $158.29 billion, a PE ratio of 54.90, a P/E/G ratio of 2.87 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm's 50-day moving average is $614.05 and its 200 day moving average is $628.50.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. Sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.